Deep Yellow Confirms Significant Uranium at Tinkas and Advances Alligator River Targets

Tinkas Drilling Validates Uranium Presence Near Tumas

Deep Yellow Limited (ASX:DYL) has wrapped up a 133-hole reverse circulation drilling campaign at its Tinkas Prospect in Namibia, delivering promising uranium intersections that bolster the regional prospectivity around its flagship Tumas Project. The program, completed in mid-March 2026, drilled 1,363 metres with holes spaced 100 metres apart, confirming uranium mineralisation in both calcretised palaeochannel sediments and fractured basement rocks.

Among the highlights, hole TUBR1296 yielded 11 metres at 265 ppm equivalent uranium (eU₃O₈) starting from just 2 metres depth, while TUBR1335 returned 4 metres at 244 ppm eU₃O₈ from 3 metres. In total, 38 holes intersected uranium grades exceeding 100 ppm eU₃O₈, with mineralisation generally narrow, averaging around 2 metres thickness.

Deep Yellow noted that these results suggest further infill drilling will be necessary to establish a resource at Tinkas. The company’s exploration focus in Namibia for 2026 will also include evaluating the S-Bend Prospect and Aussinanis Project for calcrete mineralisation within fractured basement rocks, indicating a multi-pronged approach to resource growth.

Seismic Survey Sharpens Drill Targets at Alligator River

Across the continent in Australia’s Northern Territory, Deep Yellow advanced its Alligator River Project with a high-resolution 2D reflection seismic survey over the Condor Prospect. This area, located within the world-class Alligator River uranium province, has seen limited drilling historically due to thick conductive Cretaceous cover sediments complicating traditional geophysical methods.

By partnering with Fleet Space and securing a $100,000 contribution from the Northern Territory Government’s “Resourcing the Future 2025” program, Deep Yellow completed four seismic lines that mapped cover thickness between 150 and 200 metres and identified multiple basement faults. Structural interpretation highlighted five priority drill targets resembling the geology of nearby major deposits like Ranger and Jabiluka.

Integration of seismic data with existing magnetics, gravity, and wireline logging will guide upcoming fieldwork, with drilling at Condor targeted for the second quarter of 2026. This seismic approach marks a significant step in overcoming exploration challenges in the region.

Strategic Exploration Progress Amid Market Dynamics

Deep Yellow’s exploration update complements its ongoing development of the Tumas Project, where recent engineering milestones have been reported. The company’s dual-pillar strategy aims to establish a diversified uranium production base spanning Namibia and Australia, positioning it to capitalise on growing nuclear energy demand.

Notably, the current drilling and seismic advances follow a period of strong project development and financial positioning, including a robust cash runway despite recent operational cash burn. This exploration progress builds on the company’s earlier resource upgrades and strategic planning, as detailed in its advances at Tumas Project.

While the Tinkas results are encouraging, the company is awaiting external assay confirmations to validate in-house portable XRF data and plans further drilling to refine resource estimates. Similarly, the Alligator River seismic interpretation is ongoing, with actual drilling yet to commence, underscoring the early-stage nature of these exploration efforts.